Why Businesses fail? What are the reasons!

[haidermehdi]

Hello And Greeting To The Hope Family.

Welcome To The post after so long.

I have been missing to post here due to some reasons but i am back here and hopefully would be sharing content here the way i used to :)

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Why Do Businesses Fail!

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There are some common reasons of businesses getting failed but no one talks about them Everyone goes for the technology and the strategies and blame such stuff, but being different from others, my perspective is to first get the base right. What i think is that a business stands upon its bases. And the base includes leadership and management. So before moving out towards the technologies, strategies, profit ratio and sale, we should all be focusing greatly towards the basic elements.

Leadership Skills:

For one in all to be mentioned, people don't select a valid Leader for themselves or under some circumstances, the leader is not found to be perfectly fitting' on his post, these create a chaos within the organization whose noise even beat the bells in the external organizations. And then when a business is not working well in its own building, how would it be supposed to progress in the market?

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Many of us, while making a start up or in the beginning of an entrepreneurial business, don't even think of choosing a person as a leader who has good leadership skills, Most of the times people select the person as a leader who has the most knowledge of the product.

No! Hell No!

This is not the way to go. Make him the production manager, allot him the seat of Manufacturing department, but only if he is having the knowledge of the product, Don' select him as the Leader.

Another reason is : Not getting in touch with what Customer wants:

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Focusing too much on technology and comfortability, some may forget to deal with what customer wants, and then the end-product comes out to be unwanted and or the customer doesn't like the product. They either mark it too expensive to buy or too fancy to use.

Keeping an eye on the market and dealing with customer's issue is one of the main aspect of staying viable within the Business otherwise you will see a collapse gradually or this can also occur overnight.

The main aim of designing a product is to make sure that it solves the problems of the people. If your product is not solving someone's problem or if it is not up to the mark of entertainment keeping in mind the price tag attached, no one will buy it. And hence the business would go down in a hurry and the owner then has to shut the office.

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Here i would like to end my post, Would be sharing more such content in the future protecting business and minds :)

I thereby assure that this post is plagiarism free.
WISH TO LEARN AND GROW WITH THE BEST FAMILY HERE
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Thankyou and have a good day :)

I would like to thank @crypto.piotr for his untiring support and limitless guidance that has evolved a lot from me in the past few days. Gonna Begin the post without any further delay.

Comments

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[amestyj]

Greetings friend, without a doubt management is the backbone of any company, planning, organizing and controlling activities is fundamental. Added to this, you must have a leader who stimulates human talent so that all these processes are fully complied with without becoming a nuisance.

See you later my friend, welcome and have a great weekend !

[haidermehdi]

Very rightly added :)
Thanks for stopping by :)

[franyeligonzalez]

Hello friend I think you are very right, being a good leader I think is not for everyone, most people always get carried away by their ego, so it is something that must be worked on. And knowing our customers is essential, supplying their requirements will make us look very good as a company.

[trabajosdelsiglo]

Good article, I think that businesses fail because they forget that the customer is the basis of everything if that is forgotten in business will go bankrupt.

[haidermehdi]

Yes you think wise enough.
It happens when people forget the base.
I do agree that technology is the major issue, but if the base is weaker, you can't stand a heavy project on that.
Thankyou for coming.
Wish you a good day :)

[haidermehdi]

Yes good Points.
Thanks for stopping by.